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M&A: Seller's Counsel

Gide, counsel to Poleol and Imwind on the sale of Colombian developer Jemeiwaa-Kai to AES Chivor, a Colombian subsidiary of Chilean power supplier AES Gener

25 Mar 2019

Gide has advised Poleol and Imwind on the sale of Colombian developer Jemeiwaa-Kai, owning and developing a portfolio of five wind power projects totaling 648 MW, to AES Chivor, a Colombian subsidiary of Chilean power supplier AES Gener.

The five projects (Apotolorru, Carrizal, Casa Electrica, Irraipa and Jotomana) are all located in the northeast Guajira region of Colombia. Development was started in 2009 by Arnd Morschhauser (Poleol, Ecotera, Contino and Infinivent), which later teamed up with Austrian Imwind group for this project.

Clifford Chance advises Stallergenes on its takeover by Waypoint

25 Mar 2019

International law firm Clifford Chance is advising the Special Committee of Directors of biopharmaceuticals group Stallergenes Greer (EPA: STAGR) in relation to the recommended acquisition of the company by its controlling shareholder Waypoint. The transaction, announced today, values the company at approximately €730 million.
Waypoint currently owns approximately 84% of the company. Upon completion of the acquisition, which will be implemented through a scheme of arrangement, the company will be de-listed from Euronext Paris.

CMS AD­VISES ON THE PAR­TIAL SALE OF 2GETTHERE

22 Mar 2019

CMS has advised one of the selling shareholders on the disposal of 60% of the shares in the capital of 2getthere B.V. to ZF Friedrichshafen AG.

2getthere develops autonomous passenger transport vehicles. The company is based in the Netherlands, but has offices in San Francisco, Dubai and Singapore. 2getthere's transportation systems are used in several major cities worldwide at inter alia airports and business parks. The acquisition is part of ZF's strategy to become a leading autonomous transportation systems supplier in the new mobility market.

BLUESUN ACQUIRED BY IPIPELINE IN CROSS-BORDER TRANSACTION

21 Mar 2019

On March 18, 2019, iPipeline, a leading provider of cloud-based software solutions for the financial services industry based in Exton, Pennsylvania, announced the acquisition of Bluesun Inc. headquartered in Burlington, Ontario.

Bluesun designs software products to automate core business processes for MGAs, national accounts, mutual fund dealers, banks and insurance companies. The company's client base includes nearly 70% of all Canadian life insurers and agencies.

Clifford Chance advises Macquarie on its exit from DCT GDANSK

21 Mar 2019

Clifford Chance advised Macquarie Infrastructure and Real Assets (MIRA) on the sale of shares in DCT Gdansk S.A. to PSA International Ptd Ltd (PSA), the Polish Development Fund (PFR) and the IFM Global Infrastructure Fund (GIF) managed by IFM Investors. The Australian investor, Macquarie Infrastructure and Real Assets, through its fund, Global Infrastructure Fund II, since 2005 has held almost 64% of shares in DCT Gdansk S.A., a company managing the Deepwater Container Terminal in the seaport in Gdansk.

Allen & Overy advises TUI on sale of Corsair scheduled airline to INTRO Aviation

20 Mar 2019

Allen & Overy has advised the global leading tourism specialist TUI Group on the sale of a majority stake in its French airline Corsair to German investor INTRO Aviation. INTRO will acquire a 53 per cent stake in Corsair as a first step. Under the agreement, TUI Group will initially retain a minority stake of 27 per cent, while Corsair's Employee Benefit Trust will retain a 20 per cent stake. The financial details of the agreement have not been disclosed.

Osborne Clarke advises on the sale of Barratt Residential Asset Management to FirstPort

19 Mar 2019

International legal practice Osborne Clarke has advised BDW Trading Limited on the sale of its management company, Barratt Residential Asset Management (BRAM), to FirstPort.

FirstPort is the UK’s premier property management company, with over four decades of experience FirstPort cares for 185,000 homes across the UK.

Helping our clients to put best foot forward

19 Mar 2019

Eversheds Sutherland has advised Footasylum plc (Footasylum) on the sale of  its entire issued and to be issued share capital to Britain’s biggest sports retailer, JD Sports Fashion plc (JD Sports), a month after it took an initial eight per cent stake in the footwear company.

As part of the deal, JD Sports will pay Footasylum shareholders a price of 82.5 pence in cash per share, in which it already owns an 18.7% stake.